02/19/2015

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Recticel divests its stake in JV company KTII

Kingspan Tarec Industrial Insulation (KTII) develops and produces insulation products for the thermal insulation of pipework in process and petrochemical applications and for the cool truck industry. KTII was established in 2006 by Recticel and Kingspan, when both companies decided to combine their respective industrial insulation activities. In 2014, KTII realised annual sales of circa EUR 31 million. According to Recticel, the company sells its 50 % stake in KTII for a consideration of EUR 8.5 million (enterprise value). This divestment will enable Recticel to concentrate on its building insulation activities, says the company.

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